Fidelity Systematic Municipal Bond Index ETF (NASDAQ:FMUN) Sees Large Increase in Short Interest

Fidelity Systematic Municipal Bond Index ETF (NASDAQ:FMUN) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 16,612 shares, an increase of 171.6% from the September 30th total of 6,116 shares. Currently, 0.5% of the company’s stock are short sold. Based on an average daily volume of 21,256 shares, the short-interest ratio is presently 0.8 days.

Fidelity Systematic Municipal Bond Index ETF Price Performance

FMUN stock traded up $0.30 during mid-day trading on Friday, hitting $48.81. 24,766 shares of the company were exchanged, compared to its average volume of 14,686. The firm has a fifty day simple moving average of $48.10 and a 200 day simple moving average of $49.70. Fidelity Systematic Municipal Bond Index ETF has a twelve month low of $46.32 and a twelve month high of $51.25.

Fidelity Systematic Municipal Bond Index ETF Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 29th will be paid a $0.1310 dividend. This is a negative change from Fidelity Systematic Municipal Bond Index ETF’s previous monthly dividend of $0.1430. This represents a $1.57 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Thursday, October 29th.

Institutional Trading of Fidelity Systematic Municipal Bond Index ETF

Large investors have recently modified their holdings of the company. Kestra Advisory Services LLC grew its position in Fidelity Systematic Municipal Bond Index ETF by 22.5% during the 1st quarter. Kestra Advisory Services LLC now owns 4,109 shares of the company’s stock worth $204,000 after purchasing an additional 754 shares during the period. CRA Financial Services LLC purchased a new stake in shares of Fidelity Systematic Municipal Bond Index ETF during the third quarter worth about $230,000. Quantinno Capital Management LP acquired a new stake in Fidelity Systematic Municipal Bond Index ETF in the first quarter worth approximately $254,000. Single Point Partners LLC bought a new position in shares of Fidelity Systematic Municipal Bond Index ETF in the third quarter worth about $274,000. Finally, Nwam LLC acquired a new position in Fidelity Systematic Municipal Bond Index ETF during the second quarter valued at approximately $350,000.

About Fidelity Systematic Municipal Bond Index ETF

The Fidelity Systematic Municipal Bond Index ETF aims to provide a high current yield exempt from federal income tax by investing at least 80% of its assets in municipal securities included in the Fidelity Systematic U.S. Municipal Bond Index.